ATM users sticking to their own bank machines
17 September 2009
The latest release of Reserve Bank of Australia data has shown that bank customers have stuck to their guns when it comes to ATM use after a 10 per cent rise was recorded for the number of own bank transactions on ATMs.
The trend is in response to the latest fees attached to ATM transactions as introduced in March 2009, which resulted in bank customers being charged up to $2 for use of foreign bank ATM services.
The introduction of the "Latest ATM bank fees" resulted in ATM owners having to display any fees incurred at the time of the transaction before it was completed. The previous method was for bank customers to receive a bulk billing list at the end of every month, with penalties bank fees being charged for customers using a foreign banks or independently owned ATM.
Customers are now actively seeking out their own bank ATMs to avoid these additional charges, resulting in the 10 per cent rise in own bank ATM usage.
A Reserve Bank of Australia spokesman stated that "The proportion using their own machines has risen to more than 65 per cent - and obviously transactions at foreign machines have fallen to 35 per cent, which is really encouraging."
"Before the rules came in, there was about a 60-40 per cent split between transactions at customers' own bank machines and transactions at rivals machines,"
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